Automotive Radar Market

Top Companies in Automotive Radar Industry - Robert Bosch GmbH (Germany), Continental AG (Germany), Aptiv (Ireland), Denso Corporation (Japan), and NXP Semiconductors (Netherlands)

The global automotive radar market is projected to grow from USD 6.6 billion in 2024 to USD 33.6 billion by 2030, registering a CAGR of 31.1%. Governments and regulatory bodies worldwide are implementing strict safety standards and regulations, which mandate the inclusion of certain ADAS features in new vehicles. This, in turn, propels the demand for automotive radar systems. Continuous advancements in radar technology, including improvements in radar resolution, range, and accuracy, enhance automotive radar systems' performance. Developing compact and cost-effective radar solutions makes them more accessible for a broader range of vehicles.

The companies currently in operation are concentrating on implementing the newest technology into practice, such as integrating short-range (SRR) and long-range radar (LRR) into a single module that enables comprehensive vehicle coverage. Businesses in the industry are looking for collaboration methods to improve their product offerings and incorporate cutting-edge technologies like automated driving system.

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The automotive radar market is dominated by established players such as Robert Bosch GmbH (Germany), Continental AG (Germany), Aptiv (Ireland), Denso Corporation (Japan), and NXP Semiconductors (Netherlands). These companies adopted new product launches, deals, and other strategies to gain traction in the automotive radar market.

Robert Bosch GmbH

Robert Bosch GmbH strategically aligns itself with market trends and demands by investing in the development of neural network-based artificial intelligence processing for automotive radar solutions. By collaborating with industry partners like Ficosa Internacional SA (Spain) and Indie Semiconductor (US), Bosch leverages its expertise to enhance imaging and object detection performance in radar, particularly for challenging edge sensing applications. This strategic choice enables Bosch to stay at the forefront of technological advancements in the automotive radar market. In January 2023, Robert Bosch planned to invest USD 1.02 billion in the development and production of components for electromobility and automated driving in Suzhou, China. The project's first phase in the eastern city of Suzhou will be completed by mid-2024. The company also plans to develop remote control and intelligent driving technologies, such as intelligent networking, smart logistics, and autonomous driving.

Continental AG

Continental AG strategically aligns itself with market trends by investing in developing high-performance computers that combine vehicle functions from safety, assistance, connectivity, and entertainment.

In January 2023, Continental AG announced at CES 2023 that it collaborated with Ambarella Inc. (US) to develop full-stack systems for advanced driver assistance and highly automated driving. It also developed scalable end-to-end hardware and software solutions based on artificial intelligence. This strategic partnership builds on Continental's announcement in November 2022 to integrate Ambarella's "CV3" AI System-on-Chip (SoC) family into its ADAS. Both companies are focusing on scalable full-stack systems; these systems take multi-sensor approach, including Continental's high-resolution cameras, radar, and LiDAR, as well as the associated control units and the required software for Level 2+ up to highly automated vehicles. This partnership will serve the growing market for ADAS, automated driving, and the related components market.

Aptiv

Aptiv invests heavily in research and development to enhance its radar technology. This includes improving radar systems' accuracy, range, and reliability to meet the demands of modern automotive applications, such as advanced driver assistance systems (ADAS) and autonomous driving. Further, Aptiv collaborates with various technology companies, automotive manufacturers, and industry partners to integrate its radar solutions into various vehicles. These partnerships help Aptiv stay at the forefront of technological advancements and ensure broad market adoption of its products. For instance, in January 2024, at CES 2024, Aptiv launched its 4th-gen 4d mmWave radar. It is a 77 GHs 4D mmWave radar.

Denso Corporation

Denso Corporation strategically aligns itself with the growing demand for safety systems in emerging markets, which can be attributed to improving road safety standards, supporting legislation, and consumer awareness. The company's focus on developing radar sensor systems that meet stringent safety regulations, such as the EU's mandate for ADAS features like advanced emergency braking, intelligent speed adaptation, and others in vehicles, positions it well in the market. Denso Corporation's ability to adapt to the evolving needs of the automotive sector, such as the increasing adoption of ADAS features in the mid and economy-segment passenger cars, demonstrates its strategic approach to capturing market opportunities.

NXP Semiconductors

NXP Semiconductors focuses on providing a comprehensive automotive radar solution through a scalable product portfolio. This includes 77GHz radar transceivers for various detection ranges, microcontrollers (MCUs), and systems-on-chips (SoCs) for signal processing. The company’s strategy aims to empower car manufacturers with the flexibility to create ADAS systems that meet different performance and cost requirements, ultimately contributing to improved safety features and the development of autonomous vehicles. In December 2023, NXP and Zendar partnered to develop advanced high-resolution radar systems for automotive use by utilizing Zendar's Distributed Aperture Radar (DAR) technology.

Related Reports:

Automotive Radar Market by Range (Short Range, Medium Range and Long Range), Vehicle Type (PC, LCV, and HCV), Frequency (2X-GHz, and 7X-GHz), Propulsion (ICE and Electric), Application and Region - Global Forecast to 2030

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Automotive Radar Market Size,  Share & Growth Report
Report Code
AT 5230
RI Published ON
7/8/2024
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